Buyers win their first home in Newport, pay $1.21m to beat downsizers
A home in Newport sold at auction for $1.21 million on Saturday, when first home buyers outbid downsizers in a short three-minute auction.
The double-fronted Victorian three-bedroom house at 1 Peel Street sat on about 326 square metres, within walking distance of Greenwich Reserve, Westbourne Grammar's campus, Hall Street shops and Newport station.
The home was listed with a quoted price range of $1 million to $1.05 million. The reserve was set at $1.05 million.
The three bidders included a downsizer with a buyers' advocate and a young couple from Seddon buying their first home; the third bidder was knocked out early on. The first home buyers ended up outbidding the downsizers after a rapid bidding war.
'Their attraction to this property was because it had been subdivided ... you have this opportunity to buy a grand Victorian home,' said Noah Lautman-Wurt from The Agency.
'The [buyers] are going to live in it, renovate it, and enjoy the amazing location.'
Lautman-Wurt said homes in this pocket of Newport rarely came up for sale.
'The location's really rare ... my colleague has worked in Williamstown and Newport for 25 years, and has only sold one property in that pocket,' he said. 'The neighbour's been there for 74 years.'
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